Under the initiative, 610 exporters will be given opportunities to showcase their products in international markets over the next five years. The plan also proposes the creation of a central authority to streamline business registration, ensure provincial coordination, and provide exporters with necessary facilities.
The authority will include federal and provincial representatives and will oversee the national gemstone policy. A National Variety Office will be established to ensure the return of unexported goods, while e-payment gateways will be provided to simplify transactions for exporters.
To further strengthen the legal trade of precious stones, six working groups have been formed. These groups will focus on improving banking and financial processes, handling refunds for unsold goods, introducing innovations in mining, and facilitating business registration.
Officials say registration and traceability measures alone are expected to generate over $6 million in added value.
Pakistan is home to over $45 billion worth of precious stones, including 200 million carats of rubies, 70 million carats of emeralds, and other valuable stones. Authorities warn that traditional processing methods lead to the loss of up to 70% of these resources.
All agencies involved will submit quarterly progress reports to the ministry as part of the National Action Plan.